Day: November 2, 2023

The Korea Trade Promotion Agency (KOTRA), in cooperation with the South Korean Embassy in Cairo and the Korea Water Partnership, organized a conference and business meeting with a group of 10 South Korean companies in the field of water industry development between Egypt and Korea. The conference was held on…

The Sovereign Fund of Egypt’s (TSFE) Board of Directors has convened its first meeting after a recent reshuffle, headed by Hala El-Said, the Minister of Planning and Economic Development and the Chairperson of TSFE. The meeting was attended by Ayman Soliman, TSFE CEO, and the members of the Board of…

The Ministry of Finance plans to borrow EGP 388.75bn from the local market in November by launching 24 issuances of treasury bills (T-bills) and bonds. This is part of a larger plan to borrow EGP 1.2635trn in the second quarter of the fiscal year 2023/2024 to repay previous debts and…

EFG Hermes, a leading investment bank in Frontier and Emerging Markets (FEM), announced Wednesday the successful closing of the second securitization issuance of future flow bonds for CIRA Education, the largest provider of integrated educational services in the Egyptian private sector. The issuance, valued at EGP 700m, is part of…

CI Capital, the diversified financial services group, announced today the conclusion of a securitized bond issuance of EGP 3.035bn for Capital for Securitization, on behalf of Tasaheel Finance, who acted as the originator of the portfolio. The issuance consists of four tranches with different ratings, values and tenors. The first…

Actis, a global direct investment company, is in talks with the government to buy the Gabal El Zeit wind station, one of the largest wind power plants in the world. If the deal goes through, Actis plans to borrow $250m from international institutions to fund the expansion of the station’s…

Egypt’s Minister of Electricity and Renewable Energy, Mohamed Shaker, met with Andreas Matthe, CEO of Siemens Smart Infrastructure’s Electrical Products Business Unit, accompanied by Mostafa El-Bagoury, CEO of Siemens Egypt, and Mohamed Badran, Head of Siemens Egypt’s LV and MV business, to discuss collaboration opportunities in the Egyptian electricity and…

Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt and UN Special Envoy on Financing the 2030 Sustainable Development Agenda, spoke at the UNCTAD meetings about the challenges and opportunities of financing climate and development action in developing countries and emerging markets. He emphasized that climate action is not separate…